The case pertains to IA No. 193/2023 filed by the Resolution Professional (RP) of Sri Mata Infratech Limited, the Corporate Debtor, under Section 30(6) and 31(1) of the Insolvency & Bankruptcy Code (IBC), 2016, read with regulation 39(4) of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. The RP sought approval of the Resolution Plan submitted by Varma Steels Private Limited in consortium with Mr. A V P Varma, which was approved by the Committee of Creditors (CoC) with a 100% voting share. The Company Petition CP(IB) No. 104/7/HDB/2020 filed by State Bank of India under Section 7 of IBC, 2016 was admitted on 2022-04-28, initiating CIRP against Sri Mata Infratech Limited. Mr. B. Naga Bhushan Bhagawati was appointed as the Interim
…Sri Mata Infratech Limited (the 'Corporate Debtor') underwent Corporate Insolvency Resolution Process (CIRP) following the admission of a petition filed by State Bank of India (SBI) under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The CIRP was initiated due to the Corporate Debtor's inability to repay its debts. Mr. B. Naga Bhushan Bhagawati was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). The RP constituted a Committee of Creditors (CoC), comprising solely of SBI, the financial creditor, with 100% voting share. The RP received Expression of Interests from two prospective resolution applicants, including M/s.Varma Steels Private Limited in consortium with Mr. AVP Varma. M/s.Varma
…Sign in to view the parties.
Company Petition CP(IB) No. 104/7/HDB/2020…
The Adjudicating Authority admitted the…
The case pertains to IA No. 193/2023 filed by the Resolution Professional (RP) of Sri Mata Infratech Limited, the Corporate Debtor, under Section 30(6) and 31(1) of the Insolvency & Bankruptcy Code (IBC), 2016, read with regulation 39(4) of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. The RP sought approval of the Resolution Plan submitted by Varma Steels Private Limited in consortium with Mr. A V P Varma, which was approved by the Committee of Creditors (CoC) with a 100% voting share. The Company Petition CP(IB) No. 104/7/HDB/2020 filed by State Bank of India under Section 7 of IBC, 2016 was admitted on 2022-04-28, initiating CIRP against Sri Mata Infratech Limited. Mr. B. Naga Bhushan Bhagawati was appointed as the Interim
…Sri Mata Infratech Limited (the 'Corporate Debtor') underwent Corporate Insolvency Resolution Process (CIRP) following the admission of a petition filed by State Bank of India (SBI) under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The CIRP was initiated due to the Corporate Debtor's inability to repay its debts. Mr. B. Naga Bhushan Bhagawati was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). The RP constituted a Committee of Creditors (CoC), comprising solely of SBI, the financial creditor, with 100% voting share. The RP received Expression of Interests from two prospective resolution applicants, including M/s.Varma Steels Private Limited in consortium with Mr. AVP Varma. M/s.Varma
…Company Petition CP(IB) No. 104/7/HDB/2020…
The Adjudicating Authority admitted the…